Dimensional Fund Advisors LP raised its position in NetScout Systems, Inc. (NASDAQ:NTCT) by 8.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,256,839 shares of the technology company’s stock after purchasing an additional 315,626 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.89% of NetScout Systems worth $137,710,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can grew its stake in NetScout Systems by 8.9% in the second quarter. Bank of Montreal Can now owns 3,311 shares of the technology company’s stock valued at $113,000 after purchasing an additional 271 shares in the last quarter. Flinton Capital Management LLC grew its stake in NetScout Systems by 74.5% in the second quarter. Flinton Capital Management LLC now owns 4,608 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,968 shares in the last quarter. Riverhead Capital Management LLC grew its stake in NetScout Systems by 77.9% in the second quarter. Riverhead Capital Management LLC now owns 5,158 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,258 shares in the last quarter. First Allied Advisory Services Inc. grew its stake in NetScout Systems by 515.1% in the second quarter. First Allied Advisory Services Inc. now owns 5,911 shares of the technology company’s stock valued at $200,000 after purchasing an additional 4,950 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in NetScout Systems in the third quarter valued at about $206,000.
A number of brokerages have commented on NTCT. Piper Jaffray Companies began coverage on NetScout Systems in a research note on Monday, November 13th. They issued an “overweight” rating and a $34.00 target price on the stock. Zacks Investment Research downgraded NetScout Systems from a “buy” rating to a “sell” rating in a research note on Thursday, November 2nd. Royal Bank of Canada restated a “hold” rating and issued a $33.00 target price on shares of NetScout Systems in a research note on Friday, October 27th. B. Riley restated a “buy” rating and issued a $36.00 target price on shares of NetScout Systems in a research note on Friday, October 27th. Finally, Craig Hallum lowered their target price on NetScout Systems from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. NetScout Systems currently has a consensus rating of “Hold” and a consensus price target of $33.20.
Shares of NetScout Systems, Inc. (NASDAQ NTCT) opened at $30.05 on Friday. The stock has a market capitalization of $2,605.51, a PE ratio of 22.65, a PEG ratio of 1.79 and a beta of 1.60. NetScout Systems, Inc. has a 52 week low of $27.65 and a 52 week high of $38.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.51 and a current ratio of 1.60.
NetScout Systems (NASDAQ:NTCT) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $256.90 million during the quarter, compared to the consensus estimate of $251.13 million. NetScout Systems had a return on equity of 5.15% and a net margin of 1.52%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. research analysts expect that NetScout Systems, Inc. will post 1.59 earnings per share for the current year.
NetScout Systems announced that its board has initiated a stock repurchase program on Thursday, October 26th that authorizes the company to buyback 25,000,000 shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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NetScout Systems Company Profile
NetScout Systems, Inc (NetScout) provides operational intelligence and performance analytics for service assurance and cyber security solutions. The Company’s solutions are used in various service provider, enterprise and government networks. Its nGenius and Infinistream technologies, along with certain product lines from the acquired businesses, enable information technology (IT) organizations to manage service delivery quality, and identify and address business service performance issues and security threats.
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